All Forum Posts by: James Runkle

Riley Thanks. Trying to learn as much as possible, as quickly as I can.

Thanks.

I am looking at B neighborhoods. Appreciate the input!

Hey Jay Hinrichs

What does turnkey light mean?

I am looking at SFR turnkey properties in Birmingham, Al area. All the properties being offered are closer to .08% for monthly rental.

Just wondering if I should look elsewhere. I need turnkey for a 1031 exchange, then go from there. Also, good property management is important.

Thanks for listening

Hey Jon Reed 

Thanks.

Current loan is adjusting and now at 4.99.  I am being quoted a 30 year fixed rate.  Probably will be living in this home for several years, or moving out and renting it out. So, I think buying down the rate makes sense.

Here is my options from lender posted below. I plan to keep this home, and won't consider moving out in less than 2 years. Should I buy down the rate? Right now I have been offered 4.00 rate with $1683 in costs. Property value is 325000,  loan balance is 162000 and adjusting upwards over the last several months. now at 4.99 and moving upward being tied to the treasury index. Thanks in advance for any input.

EMAIL FROM LENDER:

If you are set on the lowest rate possible it does come with a higher cost. For 3.5% interest it comes with another $4,000 or

3.75% at $1300 more in cost or

3.875% at $700 more in cost.

Hi Bigger Pockets Peeps.

Looking for a trustworthy PM company in Birmingham area. Just in case the one I started out with doesn't work out.

Also, looking for another turnkey property soon. 115K range for 1031 exchange in the next 90 days, or so.

Hoping for some recommendations.

Thanks for reading